The ETHUSD outlook for Q3
Updated
During the bear, ETHUSD has had a habit of lurking around the 50D EMA for about 3 months before exploding up.
If we get a move with the same momentum as the previous two moves, we are looking at a minimum TP of ~$460-520. (blue circle). There will be skirmishes along the way at $285, $320, and $360 levels .. but the the real tough nut to crack is $420 (red line).
If we get a move with the same momentum as the previous two moves, we are looking at a minimum TP of ~$460-520. (blue circle). There will be skirmishes along the way at $285, $320, and $360 levels .. but the the real tough nut to crack is $420 (red line).
Trade active
Added some last night and today.will continue to add in this 255-285 range because we won't stay here long.
I expect August to range $285-$325 or $335-$360 .. before the ETH2.0 Fomo kicks in and we shoot to 520 at the very least.
Note
This is for entertainment purposes only. ETH is volatile, this is not a financial advise. DYOR.Note
Gorgeous looking channel, will use to define entries and exit short term. Will add more at the red dot with a stop not far below.
Trade active
It's sit back and relax time.The longer we range below 360 the more likely it will be blasted through to 420-520, trapping shorters above, taking their liquidity, and then sending it back down.
Will right the wave up, and catch it down.
Note
*ride the wave upNote
Still following the plan. There is gonna be a lot of supply at $363, I expect it to get trapped. Shorts will cover send it shooting up, thank you for the liquidity. Depending on that momentum, it will end up $420-520 .. the original target (red dot left, blue dot right)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.